We can probably guess who the sellers of $6 million worth of Wildcat stock traded were today (placement holders), but who in the hell would be buying on such a day??
Maybe it’s someone that understands exploration and geology …
It certainly wasn’t retail punters buying.
Tomorrow (Friday) will probably be the last of the residual placement profit-takers … then we see where it goes.
If I was a director, I would be suggesting spending every cracker in the bank on more drilling, and then tender auctioning a 10% placement to the highest bidder.
Gut feeling now is that there just may be big buyers out there in the wings willing to pay a healthy premium for a meaningful sizeable stake.
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